Rice Hall James & Associates LLC Sells 3,605 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Rice Hall James & Associates LLC lessened its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 167,349 shares of the company’s stock after selling 3,605 shares during the period. Rice Hall James & Associates LLC’s holdings in The Pennant Group were worth $4,438,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PNTG. Quarry LP grew its stake in shares of The Pennant Group by 371.6% during the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in The Pennant Group by 460.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after buying an additional 2,720 shares during the period. Intech Investment Management LLC bought a new position in The Pennant Group in the 3rd quarter worth $232,000. Summit Global Investments bought a new position in The Pennant Group in the 3rd quarter worth $254,000. Finally, HighTower Advisors LLC bought a new position in The Pennant Group in the 3rd quarter worth $282,000. 85.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PNTG shares. Wells Fargo & Company started coverage on The Pennant Group in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price objective for the company. Truist Financial dropped their price target on The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada upped their price target on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Oppenheimer upped their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.00.

The Pennant Group Price Performance

Shares of The Pennant Group stock opened at $25.93 on Tuesday. The stock has a 50 day moving average of $27.30 and a 200 day moving average of $30.81. The Pennant Group, Inc. has a 12 month low of $15.74 and a 12 month high of $37.13. The firm has a market cap of $890.70 million, a PE ratio of 38.13, a PEG ratio of 2.42 and a beta of 1.91. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

The Pennant Group Profile

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.